New Zealand Oil & Gas to look offshore for oil

New Zealand Oil & Gas to look offshore for oil

Kerry Wise
April 14, 2018

New Zealand will stop granting offshore oil and gas exploration permits, saying it is committed to playing its part in tackling climate change. The country is far from a major oil producer, which will probably facilitate its transition to a carbon-neutral economy by 2050, before that achieving 100 percent renewable power generation by 2035.

"Just as New Zealand did in 1987 when it went nuclear-free and stood up to the powerful United States military, this has shown bold global leadership on the greatest challenge of our time - putting people ahead of the interests of oil corporations and the hunt for fossil fuels that are driving unsafe climate change", he said. "It certainly has nothing to do with climate change", he said.

The association said the oil and gas industry employs more than 11,000 people "at peak times".

In her defence, Ardern says current jobs and existing permits will not be affected.

The government said exploration could continue with permits that it had already issued.

New Zealand's oil and gas industry generates roughly $2.5 billion New Zealand dollars (€1.5 billion, $1.8 billion) for the economy.

Environmental organization praised the move.

Advocacy Groups Say YouTube Illegally Collects Data on Kids
But that model isn't supposed to work for USA children , who are protected by the Children's Online Privacy Protection Act . The allegations suggest that the video hosting site is data collecting on children under 13 which is against U.S. law.

Labour has stopped issuing new permits for offshore drilling, but will keep issuing new onshore permits and will let existing ones run for decades to keep Taranaki jobs.

Mr Madgwick, and New Zealand Oil & Gas chief executive Andrew Jefferies both emphasised the decision sent a worrying message to domestic and worldwide investors, about New Zealand as a place to invest and create jobs.

Ardern said permits can last for years, and "that's why we have to make decisions with really long lead times about what we do in the future".

Ardern said that by signaling the eventual end to exploration, the government is giving the industry and gas users like Methanex Corp. and Fonterra Cooperative Group ample notice to develop new technologies and invest in fresh directions.

Sri Lanka will call for fresh bids for an oil exploration block off the island's northwestern coast in May, where traces of natural gas was discovered in 2011, Cabinet Spokesman Rajitha Senaratne said on Wednesday.

Industry group Petroleum Exploration and Production NZ (PEPANZ) said it had been blindsided by the announcement and had not been consulted by the government. "These changes will simply shift production elsewhere in the world, not reduce emissions".

Climate Justice Taranaki member Urs Signer welcomed the Government's decision to cease offshore permitting, but criticised the continued onshore permitting around Taranaki, describing it as "continuing to sacrifice Taranaki for political trade-off".